Professional
Added to YB: 2025-07-15
Pitch date: 2025-07-11
FPH [neutral]
Five Point Holdings, LLC
+0.17%
current return
Author Info
ASB Partners invests in cheap, growing, and durable stocks, and shares writeups via their newsletter. Sign up for the newsletter.
Company Info
Five Point Holdings, LLC designs, owns, and develops mixed-use planned communities in Orange County, Los Angeles County, and San Francisco County.
Market Cap
$420.0M
Pitch Price
$6.00
Price Target
N/A
Dividend
N/A
Sector
Real Estate Management and Development
Category
value
ASB Partners Q225 Letter - Five Point Holdings
FPH (holding update): Strong Q125 with 20% beat; selling Great Park land at $11.8M/acre with 100 acres remaining (42% ownership). $850M EV at $5.80/share vs $200M 2025 net income guidance. Trading cheap despite 4-5 years inventory plus Valencia/Candlestick upside. $450M cash provides flexibility for $525M 10.5% debt. Demand accelerating despite high rates.
Read full article (2 min)